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(Z0) Rallies To Fresh Trend Highs

BUND TECHS
  • RES 4: 177.40 2.000 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 3: 177.00 Round number resistance
  • RES 2: 176.89 1.764 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 1: 176.83 High Nov 4
  • PRICE: 176.52 @ 05:00 GMT Nov 5
  • SUP 1: 176.18 50% retracement of yesterday's rally
  • SUP 2: 175.53 Intraday low
  • SUP 3: 175.27 Low Oct 27
  • SUP 4: 175.21 Trendline support drawn off the Sep 1 low

Bunds traded in a volatile manner yesterday but did rally off the day low printing a fresh high at 176.83. A bullish tone remains in place. Yesterday's gains confirmed a resumption of the underlying uptrend extending the bullish price sequence of higher highs and higher lows. Further gains are likely with the focus on 176.89 next, a Fibonacci projection. Initial key support lies at 175.53, yesterday's low.

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